October 25, 2019 / 11:14 AM / a month ago

Cable operator Charter quarterly earnings edges past estimates

Oct 25 (Reuters) - Charter Communications Inc edged past analysts' estimates for third-quarter revenue and profit on Friday, as the cable operator attracted more customers for its broadband services, offsetting a drop in pay TV subscribers.

The second-largest broadband provider in the U.S. added 282,000 residential customers in the third quarter ended Sept. 30.

Net income attributable to shareholders fell to $387 million, or $1.74 per share, in the reported quarter from $493 million, or $2.11 per share, a year earlier.

The year-over-year drop in net income was due to a pension remeasurement gain in the third quarter of 2018.

Total revenue rose 5.1% to $11.45 billion. Analysts on average had expected revenue of $11.41 billion and profit of $1.66, according to IBES data from Refinitiv. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D'Silva)

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